CEO利益诉求需要借口吗?——媒体声誉的正名作用  

Does CEOs Need a Pretext When Claiming His Interests?——The Defending Role of Media Reputation

作　　者：纪炀 周二华[3] 

机构地区：[1]西安交通大学管理学院,陕西西安710049 [2]湖北经济学院,湖北武汉430205 [3]华中科技大学管理学院,湖北武汉430074

出　　处：《财经论丛》2017年第10期71-80,共10页Collected Essays on Finance and Economics

基　　金：国家自然科学基金重点项目(71232001);国家自然科学基金面上资助项目(71671060)

摘　　要：本文从"取财有道""名正言顺"的传统文化视角和社会身份理论出发探讨媒体声誉作为CEO利益诉求"名头"的合理性,以2008~2014年A股上市公司为样本,运用bootstrap方法实证检验表明:媒体声誉越高的企业,其CEO越有可能实施利益诉求行为,进而会促进企业绩效的提升;媒体声誉对CEO利益诉求的影响程度会因企业所有制而不同,非国有企业CEO更有可能凭借高媒体声誉进行利益诉求。本文研究首次从实证角度考察CEO利益诉求行为,并提出了基于随机前沿的CEO利益诉求量化方法,为后续研究和管理实践提供了新洞见。The paper explores whether media reputation will be taken as a pretext when a CEO is to claim his interests based on the theory of social status and Chinese traditional culture characterized by ＂making money morally＂and ＂justifying perfectly＂.We derive the following conclusions through empirical analysis by way of bootstrap methods.Firstly,it is proved that the higher media reputation about a firm is,the more possible its CEO is to claim his interests,which in turn will boost firm performance.Secondly,the influence of media reputation on CEO＇s interests claim varies among different ownership.Compared to state-owned firms,CEO is more prone to claim his interests on the pretext of high media reputation in non-stateowned firms.The present study first investigates CEO＇s interests claim empirically and then constructes a quantitative method to measure CEO＇s interests claim based on stochastic frontier model,which provides a new insight for future research and management activities.

关 键 词：媒体声誉 CEO利益诉求 社会身份 企业所有制 企业绩效 

分 类 号：F276.6[经济管理—企业管理] F275.5[经济管理—国民经济]